Friday, May 21, 2004

Marvel stock sale triggers drop: Reuters reports that Marvel Enterprises stocks fell 5 percent today after Vice Chairman Isaac Perlmutter and Chief Creative Officer Avi Arad sold a portion of their stake in the company.

Oppenheimer analyst Peter Mirsky: "It's not a positive signal, ahead of Spider-Man 2 coming out. That said, Spider-Man 2 should be a positive for the stock. Both of these executives have sold shares in the past."

Marvel spokesman Matt Finick: "These are executives that have a lot of wealth tied up in shares. They are simply diversifying their portfolio."